By Samuel Shen and John Ruwitch | SHANGHAI SHANGHAI Scores of Hong Kong-listed companies – many small – are on a roadshow blitz in China to whet the appetite of mainland investors ahead of the launch of a cross-border investment link between Shenzhen and Hong Kong. Mainland investors are enthusiastic, viewing the cross-border channel as a way to buy relatively cheap growth companies and hedge against a […]
Chinese president Xi Jinping vowed on Saturday to open the door even wider to foreign business and play an even greater role in the process of globalisation as Beijing moved to take advantage of Donald Trump’s election and fears that he may herald a new era of US disengagement from Asia. Speaking to business leaders on the sidelines of a 21-country Asia-Pacific Economic Cooperation summit in Peru, […]
By Mitra Taj and Caroline Stauffer | LIMA LIMA Chinese President Xi Jinping pledged on Saturday to further open the world’s second-largest economy as leaders of Asia-Pacific countries gathered in Peru to find new free-trade options after Donald Trump was s elected U.S. president on a protectionist platform. The annual APEC summit got under way in Lima just over a week after Trump’s surprise victory dashed hopes […]
China’s domestic stock markets look set to be denied entry into international benchmarks for the fourth year in a row next year unless Chinese regulators remove “major obstacles” before June. Dimitris Melas, head of equity research at MSCI, provider of the benchmark MSCI Emerging Markets index, gave a downbeat assessment on Thursday of the prospects for China’s A-shares to be included in the index next year in […]
By Rosalba O’Brien and Mitra Taj | LIMA LIMA Leaders of Pacific rim nations scrambled to find new free-trade options on Friday as a looming Donald Trump presidency in the United States sounded a possible death knell for the Trans-Pacific Partnership (TPP). After lower-level meetings, U.S. President Barack Obama, Chinese President Xi Jinping, and Russian President Vladimir Putin were due to arrive at the Asia-Pacific Economic Cooperation […]
Pacific Rim leaders pledged on Friday to resist a new wave of protectionism as US President-elect Donald Trump loomed large over the opening of the 21-country Asia-Pacific Economic Co-operation summit. Mr Trump’s surprise victory in this month’s US presidential election has upended the Obama administration’s plans for a Trans-Pacific Partnership with Japan and 10 other countries and opened the door to Chinese rivals. It has also raised […]
China has weakened the renminbi’s trading band for a record 11th straight day, taking its currency to an eight-year low as expectations of US interest rate rises buoyed the dollar against the region’s currencies. This puts the renminbi within a hair’s breadth of suffering a 10 per cent decline versus the dollar since the People’s Bank of China caught markets by surprise with its one-off devaluation in […]
Five years ago, the only luxury brand that was dabbling in the world of technology was Vertu. And far from becoming a dominant player in the mobile market, it remains an outsider – despite the fact that its product is, in fact, a piece of technology. But over the last few years – probably on the back of brands like Apple and Google increasingly vying for luxury […]
HONG KONG Chinese telecoms equipment group ZTE Corp (000063.SZ) (0763.HK) said on Friday it has won a further reprieve to Feb. 27 on export restrictions that were imposed on the company by the U.S. government. In March, the U.S. Commerce Department hit ZTE with some of the toughest-ever U.S. export restrictions for allegedly breaking sanctions against Iran but has since issued temporary reprieves on the curbs. The […]
Every autumn, Hong Kong restaurants serve a seasonal delicacy: hairy crabs, shipped the same day from lakes around the Chinese city of Suzhou. But the territory’s food safety inspectors recently made a shocking discovery: some crabs in this year’s consignment contained dangerous levels of cancer-causing chemicals. Even worse, the crabs appeared to come from Lake Tai, a model in China’s fight against pollution after a multiyear, multibillion-dollar […]
JPMorgan has agreed to pay $264m to settle a US probe into its employment of well-connected Chinese “princelings” to win business. The settlement, expected to be announced on Thursday, would be the first to arise from a Securities and Exchange Commission inquiry launched in 2013 to determine whether bank hiring practices breached the US Foreign Corrupt Practices Act. The 1977 law bans companies from paying bribes to […]
Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, has become a settlement bank for the Dubai Gold & Commodities Exchange (DGCX), the exchange said on Tuesday, allowing more investors to clear transactions in yuan. ICBC becomes the second Chinese bank to join DGCX’s wholly-owned subsidiary, Dubai Commodities Clearing Corporation, as a clearing and settlement bank. Bank of China became a member in […]
Wednesday 09:20 GMT. European stocks are tracking a mostly positive showing in Asia as Wall Street eyes record highs on hopes the Trump administration’s pledge of infrastructure spending and tax cuts will boost the US economy. The dollar and government bond yields are a touch firmer, keeping gold and industrial commodity prices in check. After the FTSE Asia-Pacific equity index rose 0.6 per cent, the pan-European Stoxx […]
Long-simmering tensions between Donald Trump and the Washington foreign policy establishment burst into the open on Tuesday after a respected former congressman quit the transition team and a leading neoconservative publicly warned colleagues not to join the incoming administration. Mike Rogers, former chair of the House intelligence committee who had been one of the senior figures advising the transition on national security, stepped down as head of […]
TOKYO A pause in both the sell-off in global bonds and sharp rise in the dollar following Donald Trump’s election victory, together with Wall Street’s record high overnight helped Asian shares steady on Wednesday from a four-month low struck a day earlier. President-elect Trump’s plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap […]
|By Matein Khalid| Donald Trump’s shock win will have a profound impact on the GCC economic constellation via multiple feedback loops. His economic policies mean a much higher US dollar, anathema to GCC economies since it correlates with stock/property market crashes, banking stress and oil slumps. This is the macroeconomic linkage due to the GCC US dollar peg whose lessons the region learnt the hard way in […]
From chanting in Arabic to classes for men, there are more than 100 yoga and natural healing classes packed into this year’s two-day Yoga Fest Middle East. The festival, which begins on Friday at Dubai Internet City Amphitheatre, was launched by Dubai yogi Elaine Kelly in 2010. It has grown from a one-day event attended by about 300 people to a gathering of 4,000 people eager to […]
By Lauren Hirsch and Liana B. Baker Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest U.S. stock market debut since 2014. The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese […]
PARIS U.S. President-elect Donald Trump will have little choice but to adopt a softer line on trade than the one he has flagged during his campaign, although flare-ups with some partners are likely, former WTO chief Pascal Lamy said. With financial markets wondering whether Britain will opt for a hard or soft Brexit, Lamy said that there was a similar scenario for trade under a Trump presidency. […]
Tokyo is struggling to find out who is advising Donald Trump on Japan policy, as the president-elect prepares to meet Prime Minister Shinzo Abe in New York this week in what will be his first meeting with a foreign leader since his victory over Hillary Clinton. Four former US officials said the Japanese embassy had been contacting Asia experts in Washington to identify Trump advisers on Japan […]
There are few things like a bull market to turn an investor’s head. Just look at China. Having slumped almost 50 per cent from its peak last June to a low in early January, the benchmark CSI 300 Index is now up 20 per cent. The memory-erasing qualities of this year’s rally in Shanghai will soon be given a real test as a trading link between Hong […]
Brent crude oil dropped below $44 a barrel on Monday to hit its lowest level for three months, as a strengthening US dollar and doubts over Opec’s ability to agree supply curbs when it meets this month led to funds selling out of the market. Hedge funds and other large speculators have been paring their bets on higher oil prices for the past month, with the latest […]
newslide Bollywood superstars Shah Rukh Khan and Aishwarya Rai-Bachchan recently shared a few moments of screen space in Karan Johar’s Ae Dil Hai Mushkil. The duo seem to have well and truly buried their longtime hatchet that started with Rai-Bachchan’s unceremonious ouster from Shah Rukh Khan’s 2002 production, Chalte Chalte, due to her rocky relationship with Salman Khan. According to reports in several Indian newspapers, Khan and […]
By Elias Glenn and Kevin Yao | BEIJING BEIJING China’s economy largely showed further signs of steadying in October as expected, but disappointing retail sales growth and fears of U.S. trade frictions under incoming President Donald Trump are increasingly clouding the outlook. Fixed-asset investment quickened slightly and beat expectations in January-October as the government stepped up infrastructure spending to support growth, official data showed on Monday. But […]
